Court Rules the Fiduciary Rule Is No Longer Enforceable
The Fifth Circuit Court of Appeals found that the U.S. Labor Department’s fiduciary rule is no longer protected or able to be enforced. The fiduciary rule required financial advisors to act solely in their clients’ best interest as it related to investments into retirement accounts such as 401(k) and IRAs. Practically speaking, this required financial advisors to disclose all fees and commissions, in an easy-to-understand form, that they would earn from your investments and would prevent them from concealing any conflicts of interest. For instance, without this rule in place, financial advisors could take two similar funds, and invest your ... Read More
